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Athenahealth ‘strategic opportunities’ eyed by activist investor Singer

May 18, 2017

Athenahealth (ATHN)  shares jumped more than 15% in premarket trading on Thursday after Elliott Management’s Paul Singer launched a campaign at the health care technology company urging it to consider “strategic opportunities.”

For Elliott Management, which is run by billionaire Paul Singer, strategic opportunities usually mean find a buyer and sell the business. According to an activist filing, Elliott Management reported owning a 9.2% stake.

In the filing, the activist fund said it believed that Athenahealth operates in a “highly strategic area at the intersection of technology and health care with a disruptive value proposition, a leading competitive position and a compelling product set, the value of which is not reflected in the Issuer’s current market value.”


The activist fund added that it believes ” that there are numerous operational and strategic opportunities to maximize shareholder value” and that the fund will be seeking to talk to the company’s board.

If Elliott seeks to nominate directors to drive change at Athenahealth’s 2018 annual meeting it would have to submit its nominees between Feb. 7 and March 9.


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